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House Bill 1821 |
House Author: Anderson, Rodney |
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Effective: 1-1-12 |
Senate Sponsor: West et al. |
House Bill 1821 amends the Property Code to require the notice of obligations a seller of residential real property that is subject to membership in a property owners' association must give to the purchaser of the property to include statements relating to the owner's entitlement to copies of any document governing the association's establishment, maintenance, or operation and the availability of such documents to the purchaser. The bill provides for delivery to the purchaser by the association or its agent of a copy of the current resale certificate issued for the property and requires the purchaser to pay a fee for that service, except under certain conditions.
House Bill 1821 includes a purchaser of property in a subdivision or the purchaser's agent among the entities to which a property owners' association is required to deliver certain subdivision information on written request, changes the delivery deadline, and authorizes the association to require as a condition for delivery that the purchaser or agent provide reasonable evidence that the purchaser has a right to acquire property in the subdivision. A resale certificate provided in compliance with the delivery requirement must be prepared within a specified period before delivery. The bill revises the information that must be contained in the resale certificate, authorizes an association to require advance payment for the certificate, and changes the deadline for the association's delivery of an update of a resale certificate. An association is required to make certain dedicatory instruments relating to the association or subdivision available on a publicly accessible website, if available. The bill requires an association that meets specified criteria to adopt reasonable guidelines to establish an alternative payment schedule by which an owner may make partial payments to the association for certain assessments without accruing additional monetary penalties.